Apple hearing

May 21, 2013 12:33 PM

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Chairman of the Permanent Subcommittee on Investigations US Senator Carl Levin holds up his Apple iPhone as he questions Apple Chief Executive Officer Tim Cook (not seen) about "offshore profit shifting and the US tax code" at a hearing on Capitol Hill in Washington, DC, May 21, 2013. less

Chairman of the Permanent Subcommittee on Investigations US Senator Carl Levin holds up his Apple iPhone as he questions Apple Chief Executive Officer Tim Cook (not seen) about "offshore profit shifting and ... more

Chairman of the Permanent Subcommittee on Investigations US Senator... Photo-4661630.62901 - San Antonio Express-News

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Senator Rand Paul, a Republican from Kentucky, questions witnesses during a Senate Permanent Subcommittee on Investigations hearing in Washington, D.C., U.S., on Tuesday, May 21, 2013. Apple Inc. Chief Executive Officer Tim Cook will face off against U.S. senators leveling accusations the iPhone maker has created a web of offshore entities to avoid paying billions of dollars in U.S. taxes. less

Peter Oppenheimer, senior vice president and chief financial officer of Apple Inc., left to right, Tim Cook, chief executive officer of Apple Inc., and Phillip Bullock, head of tax operations at Apple Inc., swear in to a Senate Permanent Subcommittee on Investigations hearing in Washington, D.C., U.S., on Tuesday, May 21, 2013. Cook will face off against U.S. senators leveling accusations the iPhone maker has created a web of offshore entities to avoid paying billions of dollars in U.S. taxes. less

Peter Oppenheimer, senior vice president and chief financial officer of Apple Inc., left to right, Tim Cook, chief executive officer of Apple Inc., and Phillip Bullock, head of tax operations at Apple Inc., ... more

(L-R) Apple head of tax operations Phillip Bullock, Apple CEO Timothy Cook and Apple Senior Vice President and CFO Peter Oppenheimer prepare to testify before the Senate Homeland Security and Governmental Affairs Committee's Investigations Subcommittee about the company's offshore profit shifting and tax avoidance in the Dirksen Senate Office Building on Capitol Hill May 21, 2013 in Washington, DC. A Congressional report released yesterday said that Apple, America's most profitable technology company, used a complex system of international subsidiaries and tax avoidance efforts to shift at least $74 billion out of the reach of the Internal Revenue Service between 2009 and 2012. less

(L-R) Apple head of tax operations Phillip Bullock, Apple CEO Timothy Cook and Apple Senior Vice President and CFO Peter Oppenheimer prepare to testify before the Senate Homeland Security and Governmental ... more

Stephen Shay, professor at the Harvard Law School, speaks during a Senate Permanent Subcommittee on Investigations hearing in Washington, D.C., U.S., on Tuesday, May 21, 2013. Apple Inc. used "loopholes" to avoid paying $9 billion in U.S. taxes in 2012, U.S. Senator Carl Levin said at a hearing that brought the company's chief executive officer, Tim Cook, to Washington to defend the strategies. less

Stephen Shay, professor at the Harvard Law School, speaks during a Senate Permanent Subcommittee on Investigations hearing in Washington, D.C., U.S., on Tuesday, May 21, 2013. Apple Inc. used "loopholes" to ... more

Stephen Shay, professor at the Harvard Law School, speaks during a... Photo-4661641.62901 - San Antonio Express-News

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Apple Chief Executive Officer Tim Cook (C) testifies before the Permanent Subcommittee on Investigations about "offshore profit shifting and the US tax code" at a hearing on Capitol Hill in Washington, DC, May 21, 2013, with Chief Financial Officer Peter Oppenheimer (L) and Apple Head of tax operations Philip Bullock (R). less

Apple Chief Executive Officer Tim Cook (C) testifies before the Permanent Subcommittee on Investigations about "offshore profit shifting and the US tax code" at a hearing on Capitol Hill in Washington, DC, May ... more

Apple Chief Executive Officer Tim Cook (R) testifies before the Permanent Subcommittee on Investigations about "offshore profit shifting and the US tax code" at a hearing on Capitol Hill in Washington, DC, May 21, 2013, with Chief Financial Officer Peter Oppenheimer (L). less

Apple Chief Executive Officer Tim Cook (R) testifies before the Permanent Subcommittee on Investigations about "offshore profit shifting and the US tax code" at a hearing on Capitol Hill in Washington, DC, May ... more